Trump's Trade Policies Not as Bad as Feared, Says Consumer Technology Group Head
SHANGHAI -- Consumer Technology Association President Gary Shapiro walked a line between hope and disappointment at the CES Asia trade show June 8 on the Trump administration’s trade policies, during Q&A in a media briefing. In response to a question on what he would like to see from the Trump administration on trade, Shapiro said, “We were very disappointed that he pulled out of the Trans-Pacific agreement,” saying the Trans-Pacific Partnership was a “zero-tariff deal among 20 countries.” The administration’s trade stance is “not as terrible as some of us had feared, but it’s not as good as it could be still -- especially with the importance of trade to our future,” Shapiro said.
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Original concerns that President Donald Trump “would blow up NAFTA” didn’t materialize and a lot of agreements are being made with Canada and with Mexico, whose currency is equivalent to what it was before Trump was elected, said Shapiro. “We’re seeing from the Trump administration that nothing terrible is happening yet in trade, other than some words, and the rhetoric has definitely been scaled back." Shapiro hailed the “good relationship” Trump has with President Xi Jinping of China, which alleviated some concerns, and he expressed hope for a bilateral trade agreement with the U.K. as it exits the EU. CTA would like to see other bilateral agreements and “some re-creation or restructuring" of the North American Free Trade Agreement, "maybe even broadening it to include other countries -- essentially resurrecting the TPP,” Shapiro said.
Citing uncertainty in Washington over trade, Shapiro praised U.S. Trade Representative Robert Lighthizer as “highly qualified” and said there’s a desire in Congress to focus on free trade. On Trump's position on trade, he said the president is “figuring out that there’s three branches of government, each of which is exercising some control.” For now, he said, “I think we’re OK, and I would even be happy with the status quo for a while.”